Alhokair Group Decreases Accumulated Losses to 34.9% of Capital

Abdulmohsen Alhokair Group for Tourism and Development has announced a significant reduction in its accumulated losses, now standing at 34.90% of the company’s current capital, totaling 315 million riyals as of March 31, 2024. This update follows the release of the company’s financial statements for the first quarter of 2024.

In accordance with the company’s trading statement, cumulative losses have decreased to 109.9 million riyals. This achievement is attributed to several strategic measures implemented by the company:

1. Re-evaluating the performance of the Group’s revenue sources to enhance efficiency and effectiveness.

2. Ongoing restructuring efforts across company sectors aimed at improving operational and administrative efficiency.

3. Continual evaluation of the Group’s projects, with a commitment to exiting underperforming ventures that incur operational losses.